John & Sarah Gibson Leadership Fund
Established: August 29, 2014
Official Name: John & Sarah Gibson Leadership Fund
Permanently Restricted Endowment Corpus: $11,891.00 (7/1/16)
Spendable Balance: $569.81 (7/1/16)
2016 Annual Statement
History of Endowment
Alpha Sigma Phi has been a significant part of John and Sarah's lives. Sarah and I met at the Gamma Chi Chapter in 1986 and since that time, our friends and special memories have been made with Alpha Sigs and through the Fraternity. Both of us had very positive Greek experiences as Sarah is a member of Alpha Delta Pi. We have benefited and believe that a Fraternity leadership experience is a great way to impact the world by developing future leaders with a focus on values.
The Alpha Sigma Phi Foundation reviews each endowment fund annually and makes available a percentage of the fair market value of the Fund's assets to be distributed during the subsequent year, which is presently five percent (5%) of the rolling five-year average of the market value of the endowment at the end of the previous fiscal year.
Distributions will be used only for purposes consistent with the Foundation's tax-exempt status under section 501(c)(3) of the Internal Revenue Code as determined by the Foundation.
Selection of recipients will be determined by the Fraternity Headquarters staff or a Scholarship Committee appointed by the Fraternity President & CEO.
The Endowment's distributions shall be utilized exclusively for the following purposes:
This endowment will provide full or partial scholarships for undergraduates to attend national leadership programs such as Academy of Leadership, Better Man Weekend, Burns Leadership Institute, Elevate: National Leadership Conference, SIG Experience or programs not even developed yet.
In addition, funds can be used in accordance with Foundation policies to support housing efforts at the Indiana University Chapter.